Pakistan is a country that is rich in culture and diversity. It is also home to many different types of financial institutions. This blog post will introduce you to some of the most popular Pakistani banks and financial institutions.
Whether you are a businessman, student, employee, or job seeker, this information will be helpful to you in choosing the best bank in Pakistan.
Types Of Banks In Pakistan
The followings are the main types of banks in Pakistan:
Commercial banks play an important role in Pakistan’s economy. They provide financing to businesses and consumers, and also offer a wide range of other financial services. Commercial banks are regulated by the State Bank of Pakistan, and there are currently around 41 banks operating in the country.
The largest commercial bank in Pakistan is the HBL, which has over 1,650 branches. Other major commercial banks include Habib Bank, Muslim Commercial Bank, and United Bank.
Those banks that work internationally are said to be foreign banks, following are the foreign banks in Pakistan:
- Bank of China
- Citi Bank
- Standard Chartered Bank, etc.
Islamic banks are a type of financial institution that operates in accordance with Islamic law. Islamic banks offer a number of products and services that are similar to those offered by conventional banks, such as savings accounts, checking accounts, and loans.
- However, Islamic banks also offer certain unique products and services that are designed to comply with Islamic law. For example, Islamic banks often offer Islamic mortgages, which are structured to avoid usury or interest that is prohibited by Islamic law.
- Islamic banks also typically avoid investing in businesses that are considered to be sinful, such as gambling or alcohol production.
As a result of their adherence to Islamic law, Islamic banks have become increasingly popular in Muslim-majority countries. In recent years, Islamic banks have also begun to establish a presence in Western countries, where they have found a niche market among Muslim customers.
Development Financial Institutions
Development Financial Institutions (DFIs) are specialized financial institutions that provide financing and other support to promote economic development in less developed countries. DFIs typically focus on supporting small businesses, infrastructure projects, and other investments that have a positive impact on poverty alleviation and economic growth.
DFIs also often provide technical assistance and advice to help their clients be successful. As a result, DFIs can be an important part of the development ecosystem, providing both capital and expertise to support economically transformative projects.
Microfinance banks are a special type of financial institution that offer banking services to low-income individuals and small businesses. Microfinance banks typically offer small loans, savings accounts, and other basic financial services.
In many cases, microfinance banks are able to offer these services at lower costs than traditional banks. As a result, microfinance banks can play an important role in helping low-income individuals and businesses access the capital they need to grow and prosper.
Microfinance banks can help to stimulate local economies by providing a source of financing for small businesses. For these reasons, microfinance banks are an important part of the global financial system.
A List Of Best Bank In Pakistan
- Meezan Bank
- National Bank Of Pakistan
- Allied Bank
- Faysal Bank
- Bank Alfalah
- Soneri Bank
- Askari Bank
- Standard Charted Pakistan
- Bank of Punjab
- Summit Bank
- JS Bank
- Bank Islami Pakistan
- First Women Bank Limited
Financial Institutions In Pakistan
Habib Bank Limited (HBL) is a Pakistani banking and financial services company headquartered in Karachi, Pakistan. It is the largest bank in Pakistan by assets and operates over 1650 branches with 2100 ATMS across Pakistan.
HBL was founded in 1941 by Habib es-Saad es-Sabbagh and is currently majority owned by Habib es-Saad es-Sabbagh’s family. The bank offers a range of banking and financial services including deposits, loans, credit cards, foreign exchange, and investment banking.
The bank has a strong focus on corporate and commercial banking and is one of the leading providers of financing to Pakistan’s large businesses. The bank is also a major player in Pakistan’s retail banking sector with a strong network of branches and automated teller machines (ATMs).
HBL also has a significant presence in Pakistan’s capital markets and offers brokerage, research, and asset management services. HBL is listed on the Karachi Stock Exchange (KSE) and has a market capitalization of over US$2 billion. It is the first commercial bank in Pakistan.
Muslim Commercial Bank (MCB) is one of the largest banks in Pakistan. It was founded in 1947, and today has over 1,600 branches across the country. MCB offers a wide range of banking services, including personal and business banking, credit cards, loans, and investments.
The bank is committed to providing superior customer service, and its products are designed to meet the unique needs of its Muslim customers.
MCB also has a strong focus on corporate social responsibility and is involved in a number of community development initiatives. For more information on MCB, please visit their website or one of their branches nationwide.
UBL (Financial institutions in Pakistan)
United bank limited is a leading Pakistani commercial bank with more than 1,400 branches across the country. The bank offers a wide range of products and services, including retail and corporate banking, Islami banking, treasury, and investment banking.
United bank limited is also one of the largest banks in Pakistan in terms of assets and deposits. The bank has a strong focus on customer service, and its branches are located in all major cities and towns across the country.
United bank limited is a publicly-listed company, and its shares are traded on the Pakistan Stock Exchange. The bank headquarters is in Karachi, Pakistan.
Meezan Bank is Pakistan’s first and largest Islamic bank with a nationwide network of over 900 branches. Meezan Bank provides a complete range of Shariah-compliant products and services including deposits, financing, investments, and cards. Meezan Bank has consistently been ranked as the ‘Best Islamic Bank’ by international publications such as TheBanker, Global Finance, and Euromoney.
Meezan Bank has also been awarded the prestigious ‘QCI-DAB’ certification in recognition of its commitment to the highest standards of Shariah compliance and customer service.
The Bank is committed to playing a leading role in the development of Islamic banking in Pakistan and providing its customers with products and services that are based on the principles of fairness, transparency, and responsibility. Their motivation line is, Where Banking Starts With Belief! We can say that Meezan bank provides the Best bank account in Pakistan
If you ask Which is the best bank in Pakistan? We will say Meezan is the best bank in Pakistan.
National Bank Of Pakistan
National Bank of Pakistan is a Karachi-based bank that was established in 1949. National Bank is one of the largest banks in Pakistan with a network of over 1,574 branches.
The Bank offers a wide range of banking products and services such as deposit accounts, loans, credit cards, and investment products. It also has a strong presence in the corporate and commercial banking sector.
National Bank is committed to providing high-quality and standardized banking services to its valued customers across Pakistan. The bank is also playing its role in the socioeconomic development of Pakistan by supporting various social and economic development projects.
National Bank is one of the leading banks in Pakistan and is committed to providing world-class banking services to its customers.
Allied Bank is a leading commercial bank in Pakistan with a nationwide network of over 1,425 branches. Allied Bank offers a complete range of banking services to its customers including deposits, loans, cards, and treasury services.
Allied Bank is also one of the few banks in Pakistan to offer Islamic banking products and services. The bank is committed to providing its customers with quality service and innovative products that meet their needs.
Allied Bank has been recognized as the Best Commercial Bank in Pakistan by The Asian Banker magazine for three consecutive years. Allied Bank is a trusted partner for banking needs.
Faysal Bank is a Pakistani bank that was founded in 1987. The bank has more than 551 branches across Pakistan and offers a variety of services, including retail banking, corporate banking, and investment banking.
Faysal Bank is one of the largest banks in Pakistan and is listed on the Karachi Stock Exchange. The bank has a strong focus on providing excellent customer service and offers a number of unique products, such as Islamic banking and mobile banking.
Faysal Bank is an excellent choice for anyone looking for a reliable and well-established bank in Pakistan.
Bank Alfalah is a leading commercial bank in Pakistan with a strong focus on retail and corporate banking. The Bank offers a wide range of products and services including deposits, loans, credit cards, foreign exchange, and Islamic banking.
Bank Alfalah has a network of over 850 branches across Pakistan and is part of the Abu Dhabi Group, one of the largest conglomerates in the Middle East.
Bank Alfalah is committed to providing its customers with best-in-class service and innovative solutions that meet their financial needs.
Whether you are looking for a new account, a loan, or foreign exchange services, Bank Alfalah is your one-stop shop for all your banking needs.
Soneri Bank is a Pakistani commercial bank which is headquartered in Karachi, Pakistan. Soneri Bank was founded in 1991 and currently has over 360 branches across the country.
The Soneri Bank provides a range of banking products and services including personal banking, corporate banking, investment banking, and treasury services. Soneri Bank has also been ranked as one of the top 50 banks in Pakistan by the Pakistani Banks Association.
Soneri Bank is committed to providing its customers with the best possible service and offers a number of convenient online and mobile banking options. Soneri Bank also offers a wide range of credit cards that offer a variety of benefits such as cashback, reward points, and 0% interest rates.
Askari Bank is a Pakistani commercial bank owned by the Army Welfare Trust. The bank started operations in 1991 and currently has over 518 branches across Pakistan. Askari Bank offers a range of banking products and services including savings and checking accounts, credit cards, loans, and investment products.
The bank also has a strong focus on digital banking, offering online and mobile banking services. Askari Bank is one of the largest banks in Pakistan, with over 4 million customers. The bank is headquartered in Rawalpindi and has branches in all major cities in Pakistan. Askari Bank is a safe and reliable choice for your banking needs.
Standard Charted Pakistan
Standard Charted Pakistan is a leading financial institution that offers a wide range of products and services to its customers. These include personal banking, corporate banking, investment banking, and Islamic banking.
The bank has a strong presence in Pakistan with over 40 branches across the country. Standard Charted Pakistan is committed to providing its customers with the best possible service and products.
The bank has won several awards for its outstanding performance, including the Best Retail Bank in Pakistan award from The Asset Triple A in 2016. Standard Charted Pakistan is dedicated to helping its customers achieve their financial goals and is always looking for new ways to serve its clients better.
Bank of Punjab
Bank of Punjab was established in 1989 and is one of the largest banks in Pakistan. The Bank has a network of over 540 branches across Pakistan and offers a wide range of banking products and services.
Bank of Punjab is a member of the Pakistan Banks’ Association and is listed on the Pakistan Stock Exchange. The Bank is headquartered in Lahore and has regional offices in Karachi, Islamabad, and Peshawar.
The bank offers a variety of deposit products, including savings accounts, term deposits, and current accounts. The Bank also provides loans, credit cards, and other financing products.
Bank of Punjab has a wide range of ATM and branch locations across Pakistan. The Bank also offers online banking and mobile banking services.
Summit Bank is a regional bank headquartered in Karachi and has over 193 branches in Pakistan. Summit Bank offers a full range of banking products and services for personal, business, and commercial customers, including checking and savings accounts, loans and lines of credit, credit cards, mortgage loans, and more.
Choosing this bank is also a good selection but you should go deep for choosing the best bank in Pakistan, where you can satisfy yourself.
JS Bank is one of the leading banks in Pakistan, the JS in JS Bank stands for Jahangir Siddiqui, the bank’s founder. JS Bank has a strong focus on providing excellent customer service. The bank has a wide range of products and services to meet the needs of its customers. These include personal banking, business banking, corporate banking, and investment banking.
JS Bank also offers Islamic banking products and services. The bank has 238 branches across Pakistan along with the ATMS.
JS Bank’s goal is to provide its customers with a “one-stop shop” for all their banking needs and is a member of the Pakistan Banking Association. The bank is also listed on the Karachi Stock Exchange.
Bank Islami Pakistan
Bank Islami Pakistan is one of the leading banks in Pakistan. It offers a wide range of banking products and services to its customers. The bank has 340 branches across Pakistan along with the ATMS.
The bank provides personal, business, and corporate banking services. It also offers Islamic banking products and services. Bank Islami Pakistan is committed to providing its customers with quality banking products and services.
It is one of the most trusted banks in Pakistan and it is expanding its operations in different parts of the country. The bank is committed to providing excellent customer service and maintaining the highest standards of quality in its products and services.
It is a leading player in the Pakistani banking industry and it is striving to provide the best possible experience to its customers.
First Women Bank Limited
First Women Bank Limited is a Pakistani commercial bank owned by women. The First Women Bank’s head office is located in Karachi, Pakistan. This bank provides services such as deposits, loans, and credit cards to its customers.
First Women Bank also offers online banking and mobile banking services. This Bank has 42 branches all over Pakistan. The Bank is committed to empowering women and helping them participate fully in the economic development of Pakistan.
The Bank offers special products and services that cater to the needs of women entrepreneurs and businesses.
These are the best banks in Pakistan. You can choose the best bank in Pakistan from this list for keeping your money safe or for other purposes.
Best Bank In Pakistan For International Transactions
In our vision, Standard Chartered and Faysal Bank are two of the best banks in Pakistan for international transactions.
Standard Chartered has a large network of branches and ATMs, as well as a wide range of online and mobile banking services. It is also one of the few banks in Pakistan that offers 24-hour customer service. Making it the best bank in Pakistan for international transactions.
Faysal Bank offers competitive exchange rates and has a network of more than 551 branches across Pakistan and provides online banking services. As a result, it is convenient for customers to transfer money to their accounts from anywhere in the world.
International Banks In Pakistan
International banks are defined as banks that have their main headquarters outside of the country in which they operate. In Pakistan, there are a number of international banks that have set up operations.
These banks offer various services to Pakistani businesses and individuals, including loans, savings accounts, and investment opportunities. International banks typically have more experience and resources than local banks, making them valuable partners for businesses that are looking to expand their operations.
International banks are subject to different regulations than local banks, providing an additional level of protection for customers. For these reasons, international banks are an important part of the Pakistani financial system.
The followings are the International banks in Pakistan
Citi Bank N.A
Citi is the leading global bank. They serve more than 140 million customers in over 160 countries and territories. Citi provides consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Their mission is to serve as a trusted partner to their clients by responsibly providing financial services that enable growth and economic progress. Citi’s goal is to create the best outcomes for their clients and customers with financial solutions that are simple, creative, and responsible.
Citi has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi has been doing business for over 200 years. The company has about 200,000 employees globally.
Standard Chartered Bank
Standard Chartered Bank is a leading international bank, with operations in over 70 countries and a history that stretches back over 150 years. They offer a full range of banking services, including personal and business banking, loans, credit cards, and investment products.
Their global reach means that they can offer their customers convenient locations and 24/7 access to their services. Standard Chartered Bank is committed to providing exceptional customer service, and its team of dedicated professionals is always ready to help.
The Hong Kong and Shanghai Bank
The Hong Kong and Shanghai Bank is one of Asia’s oldest and most prestigious banks. Founded in 1865, the bank has a long history of serving the needs of businesses and individuals in the region. The bank offers a full range of banking services, including personal and corporate accounts, loans, investments, and insurance.
The Hong Kong and Shanghai Bank is also an active participant in the local community, supporting various charitable causes. The bank is committed to providing its customers with good services and products, backed by a strong commitment to customer satisfaction.
Bank of China
Bank of China is one of the four biggest state-owned commercial banks in China. It was founded in 1912 and is now the second-largest bank in the world by assets. Bank of China provides a wide range of banking and financial services to both individuals and businesses. These services include everything from personal loans and savings accounts to foreign exchange and investment banking.
Bank of China is a trusted name in the banking sector and provides its customers with a high level of service and security.
Deutsche Bank AG
Deutsche Bank AG is a leading global financial institution with a strong presence in Europe, the Americas, Asia Pacific, and emerging markets. The bank offers a comprehensive range of products and services to corporate, government, and institutional clients, including investment banking, asset management, and retail banking.
Deutsche Bank has a long history of serving the needs of its clients, dating back to its founding in 1870. Today, the bank is one of the largest financial institutions in the world, with over EUR 1.498 trillion in assets and over 82,556 employees.
Deutsche Bank is committed to providing innovative solutions and outstanding service to its clients around the globe.
Government Banks In Pakistan
Government banks in Pakistan are responsible for providing banking services to the general public and government institutions.
There are a number of government banks in Pakistan, each with its own unique role and purpose.
The State Bank of Pakistan is the central bank of the country and is responsible for issuing currency, regulating the banking system, and managing Pakistan’s monetary policy.
The NBP is another important government bank, which provides deposit and loan services to Pakistani citizens. There are also a number of regional banks in Pakistan, which provide banking services to the country. Government banks play an important role in the Pakistani economy and provide a valuable service to the people of Pakistan.
Government banks in Pakistan
- National Bank of Pakistan
- Industrial Development Bank Of Pakistan
Private Banks In Pakistan
Here is the list of private banks in Pakistan
- Allied Bank
- Faysal Bank
- Meezan Bank
- Bank Alfalah limited
- Askari Bank Limited
- Bank Al Habib Limited
- Summit Bank
Why it is important to choose the best bank in Pakistan?
There are many reasons to choose the best bank in Pakistan. Some of the reasons are mentioned below.
- If you are looking for keeping your money safe
- If you are desiring to invest your money in the right place
- If you want to open an account, etc.
Is it important to choose the best bank in Pakistan for a saving account?
It is very important to choose the best bank in Pakistan that offers high-interest rates, so one can take more benefit from their saving account.
Which is the best bank in Pakistan in terms of Investment and customer service?
HBL is the best bank in Pakistan in terms of investment whereas Meezan bank is the best for its customer service.
How to select the best bank in Pakistan for investing in stock?
Follow these steps to find the best bank in Pakistan for investing in the stock market:
- Learn a little bit about the stock candles
- Select different banks
- Check their financial history (up to the last 5 years)
- Check the EPS (Earning Per Share)
- Check the dividend policy and history
- Look at their share price
- Understand the history of price
- Compare the share price and check who gives the more profit at a low share price
- Find a suitable broker that supports trading
- Select the bank and start trading
Hopefully, you like our vision of the best bank in Pakistan and found some useful and helpful information for selecting the correct place for your money.